To: rktman
"effective retirement nest egg" What does that mean? It means that the author is probably cooking the numbers to try to make his point.
As an example, suppose you get a pension of $50,000. That implies you have an effective retirement nest egg of one million dollars. That's because someone without a pension would need one million dollars earning 5% annual interest to match your pension.
Notice that you aren't actually a millionaire.
I point this out not to defend Sanders. I just dislike authors who try to mislead.
21 posted on
04/14/2016 8:24:13 AM PDT by
Leaning Right
(Why am I holding this lantern? I am looking for the next Reagan.)
To: Leaning Right
Spot on. Plus congress has voted themselves pensions worth way more than $50K annually. As mentioned in my previous example, most people who don't live high on the hog can make it to age 90 on a $300K nest egg.
I've also heard that nearly half (47%) of retirees live on social security alone.
26 posted on
04/14/2016 8:41:41 AM PDT by
Vigilanteman
(ObaMao: Fake America, Fake Messiah, Fake Black man. How many fakes can you fit into one Zer0?)
To: Leaning Right
You beat me to it. The author is projecting the value of his Senate pension over another 20 years.
Using that logic, I suppose one could say the same about any civil servant who retires as a GS-12+. Social Security payments fall under the same discussion.
27 posted on
04/14/2016 8:42:53 AM PDT by
Night Hides Not
(Remember the Alamo! Remember Goliad! Remember Mississippi! My vote is going to Cruz.)
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